The IT player’s decision comes at a time when many of its peers are shying away from disclosing precise hiring targets amidst uncertainty and challenging market conditions
Tech Mahindra on Thursday revealed plans to onboard 6,000 fresh graduates in the financial year 2025. The announcement underlined the company’s confidence in its long-term growth prospects despite facing headwinds in the business environment.
The IT player’s decision comes at a time when many of its peers are shying away from disclosing precise hiring targets amidst uncertainty and challenging market conditions. The move points to a strategic shift towards supporting its workforce with fresh talent, even as the broader industry witnesses declines in headcount.
However, Tech Mahindra major reported a sequential decline of 795 employees in its total headcount for the fourth quarter ended 31 March. The full-year FY24 saw a notable decrease of 6,945 employees, meaning it was the second consecutive year of a decline in the company’s employee base.
During the Q4 earnings press conference, Mohit Joshi, MD & CEO, Tech Mahindra said, “There is some reduction in the headcount that reflects the business volume that we are seeing. However, we are one company that is steadily adding fresh graduates and we are continuing on our path of absorbing 1500 plus fresh graduates every quarter – 6000 freshers being added each year.”
Additionally, a robust training programme under the guidance of a newly appointed Chief Learning Officer is reportedly being developed to equip these fresh recruits with the necessary skills for deployment.
Tech Mahindra’s strategic focus on early career and fresher workforce development seems to align with its broader business turnaround objectives aimed at improving margins. During an analyst call, CFO Rohit Anand spoke on the importance of this initiative in the company’s roadmap towards achieving operational excellence by 2027.
The announcement by Tech Mahindra stands out amidst reports of full-year headcount declines from industry giants like TCS, Infosys and Wipro in FY24. TCS witnessed a reduction of 13,249 employees, while Infosys reported a decline of 25,994 employees. In contrast, Wipro added 24,516 fewer employees during the same period.
Despite facing challenges reflected in its Q4 results, which saw a 40.9 per cent year-on-year decline in net profit and a 6.2 per cent drop in revenue, Tech Mahindra’s proactive approach towards fresh hiring signals a strong step to nurturing talent and positioning itself for future growth opportunities.